QQQ vs. GLDM
QQQ (Invesco QQQ ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, QQQ returned 16.85%/yr vs 17.41%/yr for GLDM. At a 0.08 correlation, their price movements are largely independent. QQQ charges 0.18%/yr vs 0.10%/yr for GLDM.
Performance
QQQ vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than GLDM's -2.40% return.
QQQ
- 1D
- 0.59%
- 1M
- 1.75%
- YTD
- 17.57%
- 6M
- 17.85%
- 1Y
- 37.55%
- 3Y*
- 26.43%
- 5Y*
- 16.85%
- 10Y*
- 21.79%
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
QQQ vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 17.57% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -9.56% |
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
Correlation
The correlation between QQQ and GLDM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.08 |
The correlation between QQQ and GLDM shifts across timeframes, from 0.08 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QQQ vs. GLDM — Risk / Return Rank
QQQ
GLDM
QQQ vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and SPDR Gold MiniShares Trust (GLDM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QQQ | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.19 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.00 | +2.01 |
| Martin ratioReturn relative to average drawdown | 11.22 | 2.87 | +8.35 |
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Drawdowns
QQQ vs. GLDM - Drawdown Comparison
The maximum QQQ drawdown since its inception was -82.97%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for QQQ and GLDM.
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Drawdown Indicators
| QQQ | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.97% | -24.35% | -58.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.96% | -24.35% | +12.39% |
Max Drawdown (3Y)Largest decline over 3 years | -22.77% | -24.35% | +1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -35.12% | -24.35% | -10.77% |
Max Drawdown (10Y)Largest decline over 10 years | -35.12% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -21.96% | +18.63% |
Average DrawdownAverage peak-to-trough decline | -32.75% | -6.27% | -26.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 8.44% | -5.24% |
Volatility
QQQ vs. GLDM - Volatility Comparison
Invesco QQQ ETF (QQQ) and SPDR Gold MiniShares Trust (GLDM) have volatilities of 7.56% and 7.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQ | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 7.73% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 23.93% | -10.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 27.15% | -9.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 18.13% | +4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 16.98% | +5.40% |
QQQ vs. GLDM - Expense Ratio Comparison
QQQ has a 0.18% expense ratio, which is higher than GLDM's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
QQQ vs. GLDM - Dividend Comparison
QQQ's dividend yield for the trailing twelve months is around 0.39%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.39% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
QQQ and GLDM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to QQQ (7.56%). In terms of maximum drawdown, QQQ dropped -82.97% vs GLDM's -24.35%.
On 5-year performance, GLDM leads with 17.41% vs 16.85% for QQQ. On fees, GLDM is cheaper at 0.10% per year. On volatility, QQQ has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 17.41% return vs 16.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.18% for QQQ.
QQQ has the higher dividend yield at 0.39%, compared with 0.00% for GLDM.
QQQ is categorized as Nasdaq-100, while GLDM is Gold. QQQ tracks NASDAQ-100 Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.18% for QQQ and 0.10% for GLDM.
QQQ currently has the higher Sharpe Ratio (2.09 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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